1. Field of the Invention
The present disclosure relates to computer processes for detecting and assessing multiple types of risks in financial transactions.
2. Description of the Related Technology
Many financial transactions are fraught with risks. For example, a mortgage lender may face risks of borrower default and fraud. A fraud detection system may be configured to analyze loan application data to identify applications that are being submitted with fraudulent application data. A separate default risk detection system may be configured to analyze the same application data to address the risk of borrower default.
However, existing risk detection systems have failed to keep pace with the dynamic nature of financial transactions. Moreover, such systems have failed to take advantage of the increased capabilities of computer systems. Thus, a need exists for improved systems and methods of detecting and assessing various types of risks associated with financial transactions.